Property Rights as Applied to the Cinque Terre

Cinque Terre,  the grandeur it possesses in its natural beauty is quite indescribable! From the steep cliffs to the beautiful terraces, the fine wine to the delicious bread, the area is quite prone to adventure. Perhaps most amazing about the area itself are the farmers who call it home, and even more specifically the incredible journey they have made, and continue to make, in creating a unique and dangerously produced wine on the steep Mediterranean cliffs. The climate of the Cinque Terre consists of a good amount of rainfall, which, without the specially designed stone walls built on the terraces by the farmers for centuries, would wipe away the terraces into the sea. It is with this rainfall in mind that my partner and I read the article "Common Property Rights as an Endogenous Response to Risk."

This article, presented within the Agricultural and Applied Economics Association journal, brings about the argument that rainfall plays a role as an economic factor. It argues most specifically that decreased rainfall, such as in the area of Sudan, leads owners of private plots to scatter or disperse, leaving in the dust a failing economy. Incidentally, this rain provides a fertile area for agricultural use and economic growth, and without it there can be none. Throughout the article the argument becomes more complex and even utilizes an example of cattle ranchers in the American West, which is a formidable example in itself.

However, the Cinque Terre provides a situation where this argument and or theory about rainfall is disproved. In the Cinque Terre there is plenty of rain, perhaps even too much considering the flood of Vernazza just recently, yet farmers continue to leave the area, leaving only 20 or so total left. What we as economics students can take away from this contrast from the articles argument is that it is important to look for more specific and complex examples then what the articles provides. In addition, that the Cinque Terre is not just a beautiful place but also a complex and ever changing economy, something that everyone, including tourists, should learn to understand and appreciate.